Groupama Asset Managment Buys Shares of 2,844 Packaging Co. of America (NYSE:PKG)

Groupama Asset Managment purchased a new position in shares of Packaging Co. of America (NYSE:PKG) in the fourth quarter, HoldingsChannel reports. The firm purchased 2,844 shares of the industrial products company’s stock, valued at approximately $640,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PKG. Norges Bank acquired a new position in Packaging Co. of America in the fourth quarter valued at about $258,928,000. Stifel Financial Corp lifted its holdings in shares of Packaging Co. of America by 1,462.2% in the 3rd quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company’s stock worth $123,440,000 after acquiring an additional 536,389 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Packaging Co. of America during the 4th quarter worth approximately $50,175,000. Conning Inc. acquired a new stake in Packaging Co. of America in the 4th quarter valued at approximately $32,329,000. Finally, Two Sigma Advisers LP raised its position in Packaging Co. of America by 218.1% in the third quarter. Two Sigma Advisers LP now owns 207,700 shares of the industrial products company’s stock valued at $44,739,000 after purchasing an additional 142,400 shares during the period. 89.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PKG shares. Citigroup lifted their price objective on Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Saturday, March 29th. Wells Fargo & Company dropped their price objective on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Finally, Truist Financial reiterated a “buy” rating and set a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $233.00.

Packaging Co. of America Trading Up 0.8 %

Shares of NYSE:PKG opened at $201.46 on Thursday. Packaging Co. of America has a 52 week low of $169.00 and a 52 week high of $250.82. The company’s 50 day moving average is $208.05 and its two-hundred day moving average is $221.99. The company has a market cap of $18.09 billion, a PE ratio of 22.56, a P/E/G ratio of 2.41 and a beta of 0.77. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58.

Packaging Co. of America (NYSE:PKG) last posted its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. Equities analysts predict that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is 55.99%.

Packaging Co. of America Profile

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.